Nationwide Fund Advisors lifted its holdings in shares of Centene Corporation (NYSE:CNC) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,148 shares of the company’s stock after purchasing an additional 1,223 shares during the period. Nationwide Fund Advisors’ holdings in Centene were worth $7,853,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Centene during the 2nd quarter worth $455,000. Artemis Investment Management LLP bought a new stake in shares of Centene during the 2nd quarter worth $15,326,000. Schwab Charles Investment Management Inc. raised its stake in shares of Centene by 28.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock worth $62,992,000 after purchasing an additional 176,403 shares during the period. AJO LP bought a new stake in shares of Centene during the 2nd quarter worth $100,314,000. Finally, BT Investment Management Ltd bought a new stake in shares of Centene during the 2nd quarter worth $10,476,000. Institutional investors own 92.33% of the company’s stock.
Shares of Centene Corporation (NYSE:CNC) opened at $101.34 on Friday. Centene Corporation has a 52 week low of $54.40 and a 52 week high of $103.15. The stock has a market capitalization of $17,487.84, a PE ratio of 19.30, a P/E/G ratio of 1.54 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. The business had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Centene had a return on equity of 14.79% and a net margin of 1.81%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. equities analysts anticipate that Centene Corporation will post 4.98 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. Cowen reiterated an “outperform” rating and set a $105.00 target price (up from $77.00) on shares of Centene in a research note on Wednesday, September 13th. Cantor Fitzgerald lifted their target price on Centene to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. BidaskClub upgraded Centene from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $105.00 target price on shares of Centene in a research note on Friday, September 1st. Finally, BMO Capital Markets started coverage on Centene in a research note on Tuesday, October 17th. They set an “outperform” rating and a $120.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $99.11.
In other Centene news, Director Robert K. Ditmore sold 4,167 shares of Centene stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.
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Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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